An oceanfront mansion in Palm Beach has been sold for $22.5 million in the most expensive residential transaction of 2010 for the posh town.
Former Sony Corporation of American chairman and chief executive officer Michael Schulhof and his wife, Paola, took a hit when they sold the seven-bedroom home at 1075 N. Ocean Blvd. The couple paid $23 million for the then-new house in September 2007, according to Palm Beach County records.
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